25th Sep 2023
Toray Industries and Honda have partnered to develop chemical recycling technology for glass-fibre reinforced nylon 6 parts from end-of-life vehicles. They use subcritical water to depolymerise the nylon 6, regenerating it as caprolactam, a raw monomer. The technology was adopted by the ministry of environment for a decarbonised circular economy...
15th Sep 2023
Finland-based Ahlstrom has appointed Niklas Beyes as CFO and Wolfgang Laures as COO, both joining the executive management team. Beyes, with experience in leading finance transformations, aims to support Ahlstrom's sustainable growth. Current CFO Jorn P Jensen is scheduled to exit on September 15 and Laures will assume the role of COO from October...
31st Aug 2023
India's technical textile startups are buoyed by the new GREAT initiative. Industry experts believe that the scheme will fast-track growth and attract new entrepreneurs, meeting a longstanding demand for financial support in this sector. The ministry of textiles has also approved 26 engineering schools to introduce technical textile courses.
31st Aug 2023
Toray Industries, Nitto Seimo, and Maruha Nichiro Corporation's subsidiary Taiyo A&F are expanding their recycling programme aimed at resolving marine plastic pollution. The programme, initiated last November, involves recycling materials from fishing nets into new ones. The companies are now extending the programme to include used nylon fishing...
31st Aug 2023
Ahlstrom is set to divest its Stenay plant in France to Accursia Capital after receiving approval from employee representatives. The transaction, expected to be finalised by September end, is in line with Accursia Capital's strategy to develop the Stenay plant and ensure its sustained future, thus safeguarding jobs and enhancing the paper-based...
28th Aug 2023
German company Covestro's supervisory board has appointed Christian Baier as the new CFO, succeeding Dr Thomas Toepfer on October 1, 2023. Dr Markus Steilemann, the CEO, will serve as interim CFO in September after Toepfer leaves on August 31, 2023. Dr Thorsten Dreier will become the labour director alongside his role as CTO from September 1, 2023.
18th Aug 2023
Indian firm Garware Technical Fibres Ltd reported a 7 per cent rise in net sales to ₹325.7 crore in Q1 FY24, compared to ₹304.5 crore in Q1 FY23. Profit before tax grew 54 per cent to ₹57.1 crore, and net profit after tax increased by 52 per cent to ₹43 crore. The EPS for Q1 FY24 stood at ₹21.08, a 54 per cent growth over the previous year.
10th Aug 2023
Japanese company Teijin Limited's Q1 FY23 net sales rose slightly by 0.4 per cent to 244.8 billion yen, but operating income fell sharply to 4.2 billion yen. The fibres and products segment grew, with operating income up 77 per cent, while the materials segment struggled, impacted by a previous plant fire and slow recovery of the Chinese economy.
7th Aug 2023
Germany-headquartered Gessner's sustainable Thermoplastic Polyurethane (TPU) carrier materials have gained popularity as a preferred option for artificial leather applications in automotive and textile industries. TPU offers durability, elasticity, and resistance to oil and abrasion, making it an attractive alternative to natural leather.